As you can probably tell, I am starting to have a few regrets about buying a house. I love my home but, bloody hell, is home ownership overrated. First of all, it’s not as though I even really own the thing, is it? I’m basically just renting it from the bank. And, unlike a landlord, the bank doesn’t come over to check on your possibly frozen pipes. “But instead of throwing money away on rent you’re building equity! Homes are a great investment!”, people might say. Well, yes, that’s true – just as long as you buy in the right place at the right time and are able to hold on to it for the right number of years and sell at the right moment. If you can do all that then you’re grand. If you can’t, then real estate can be a very iffy investment.
Instead, I realised that home ownership is just a never-ending series of expensive things that need to be done.
Well, yes, so landlords earn their money, don’t they? Alleviating you of that price and maintenance risk?